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Anti-Corruption & Foreign Corrupt Practices Act (FCPA)

  • Changes to Sanctions on Iran

    17 Jun 2015
    What are the prospects for business with Iran after the June 30 deadline to complete negotiations over Iran’s nuclear program? In exchange for limitations on Iran’s ability to develop nuclear weapons, the European Union (“EU”), the United Nations (“UN”), and the United States (“US”) would lift certain nuclear-related sanctions on Iran. Even with a positive outcome to the next round of discussions on the June 30 deadline, there are several key considerations.
  • FIFA and BHP Billiton: The Unique FCPA Challenges Present in International Sports

    15 Jun 2015

    Recent enforcement actions by the Department of Justice and Securities and Exchange Commission have raised the profile of corruption in international sports and highlight unique FCPA compliance concerns.

  • "Facilitation": A New Tool for Extraterritorial Sanctions Enforcement?

    17 Apr 2015
    Recent OFAC and DOJ actions have focused on certain entities—overseas financial institutions—and particular conduct—US dollar clearing and associated “stripping.” The DOJ’s recent $232 million settlement and negotiated criminal plea with Schlumberger Oilfield Holdings Ltd., however, reflects a break from this trend.
  • SEC Says Confidentiality Agreements May Impede Whistleblowers

    2 Apr 2015

    On April 1, 2015, the United States Securities and Exchange Commission (“SEC” or “Commission”) filed its first enforcement action under Section 21F of the Securities Exchange Act of 1934 (“Exchange Act”) and Exchange Act Rule 21F 17 promulgated thereunder, which is intended to prevent issuers from taking steps that impede employees from reporting potential federal securities law violations to the SEC.

  • Anderson and Sokenu Publish Article in Directors & Boards

    24 Mar 2015
    New York litigation partners Paula Anderson and Claudius Sokenu co-authored an article, titled “How a Skilled Board Should Manage an Internal Investigation,” that was published in the First Quarter 2015 issue of Directors & Boards.
  • Shearman & Sterling Lawyers Publish Article on FCPA’s Influence on International Arbitration in New York Law Journal

    10 Feb 2015
    In an article titled “A Bribe Is a Bribe: FCPA’s Influence on International Arbitration,” published in the New York Law Journal on February 9, partners Philip Urofsky (Litigation-Washington, DC) and Henry Weisburg (International Arbitration-New York) and associate R. Zachary Torres-Fowler (International Arbitration-New York) examine the litigation risks associated with FCPA investigations in the US courts. The authors consider the implications that FCPA liability may have on clients’ recourse to foreign investment protections and bilateral investment treaties, as well as related international arbitration.
  • Ellison Article on FCPA for Brazilian Companies

    26 Jan 2015
    São Paulo Managing Partner Robert Ellison and Carlos Lobo, partner at Brazilian firm Veirano Advogados and a former Shearman & Sterling international associate, co-authored an article titled “Companhias Abertas e a Lei Anticorrupção” (Listed Companies and the Anti-Corruption Law), published in the Brazilian financial newspaper Valor Econômico.
  • Shearman & Sterling's Recent Trends and Patterns in the Enforcement of the Foreign Corrupt Practices Act (FCPA)/FCPA Digest

    5 Jan 2015
    Shearman & Sterling’s bi-annual Trends & Patterns report provides insightful analysis of recent enforcement trends and patterns in the US, the UK, and elsewhere as well as helpful guidance on emerging best practices in FCPA and global anti-corruption compliance programs.
  • Gifts of Travel and Luxury Watches to Saudi Officials Not Mere 'Icing on the Cake' for FCPA Charges

    21 Nov 2014
    Earlier this week, the SEC announced fines for two former defense contractor employees for FCPA violations relating to gifts given to Saudi officials. The individuals, Stephen Timms and Yasser Ramahi, each consented to the entry of settled administrative proceedings and agreed to pay $50,000 and $20,000 in fines, respectively. According to the SEC, in 2008 and 2009 the two men (employees of Boston-based FLIR Systems, Inc. at the time and each a US citizen) gave Saudi officials luxury watches and a 20-night multi-continent trip to win contracts for binoculars and security cameras. This enforcement action is noteworthy for being one of very few premised solely on improper gifts.
  • SEC Settlement with Layne Christensen Raises New Questions on the Government’s Understanding of the Business Nexus Element of the FCPA

    4 Nov 2014
    Last week the SEC settled charges against Layne Christensen for various violations of the FCPA. While a relatively unremarkable case at first glance, the SEC’s charges against Layne Christensen reflect a troubling approach by enforcement agencies to disregard the “business nexus element” of the FCPA’s anti-bribery provisions. These recent practices appear to contradict the Fifth Circuit’s opinion in United States v. Kay and create greater uncertainty as to the scope of the statute.
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